TIME recently held its gala celebrating the magazine's self-proclaimed 100 most influential people. Among those chosen were David Koch and Steven Colbert, who spoke before the gathered masses.

Colbert ripped several of the magazine's selections using his signature (read: brilliant) sharp-tongued irony. However, some of his most pointed comments were reserved for David Koch, who was seated before Colbert as he spoke.

Here's what he had to say:

Of course, all of us should be honored to be listed on the TIME 100 alongside the two men who will be slugging it out in the fall: President Obama, and the man who would defeat him, David Koch.

Give it up everybody. David Koch.

Little known fact -- David, nice to see you again, sir.

Little known fact, David's brother Charles Koch is actually even more influential. Charles pledged $40 million to defeat President Obama, David only $20 million. That's kind of cheap, Dave.

Sure, he's all for buying the elections, but when the bill for democracy comes up, Dave's always in the men's room. I'm sorry, I must have left Wisconsin in my other coat.

I was particularly excited to meet David Koch earlier tonight because I have a Super PAC, Colbert Super PAC, and I am -- thank you, thank you -- and I am happy to announce Mr. Koch has pledged $5 million to my Super PAC. And the great thing is, thanks to federal election law, there's no way for you to ever know whether that's a joke.

By the way, if David Koch likes his waiter tonight, he will be your next congressman.